Lease

Definition - Noun
[Anglo-French les, from lesser to grant by lease, from Old French laisser to let go, from Latin laxare to loosen, from laxus slack]
1 a  : a contract by which an owner of property conveys exclusive possession, control, use, or enjoyment of it for a specified rent and a specified term after which the property reverts to the owner
also
: the act of such conveyance or the term for which it is made
see also sublease
compare easement license security interest at interest tenancy
Article 2A of the Uniform Commercial Code, which governs leases where adopted, defines lease as «a transfer of the right to possession and use of goods for a term in return for consideration."
Pronunciation'lEs

Definition - Verb
1  : to grant by lease to another <~s mopeds to tourists>
2  : to hold under a lease <a company leasing a fleet of cars for its executives>
1  : to be under a lease or subject to a lease <the vacation house ~s for $500 a week>
2  : to grant property by a lease <have leased to students in the past>

Pronunciation Key

  • \&\ as a and u in a b ut
  • \[^&]\ as e in kitt en
  • \&r\ as ur and er in f urther
  • \a\ as a inash
  • \A\ as a in ace
  • \Š\ as o in m op
  • \au\ as ou in ou t
  • \ch\ as ch in ch in
  • \e\ as e in bet
  • \E\ as ea in easy
  • \g\ as g in go
  • \i\ as i in hit
    		•
  • \I\ as i in ice
  • \j\ as j in job
  • \[ng]\ as ng in sing
  • \O\ as o in go
  • \o\ as aw in law
  • \oi\ as oy in boy
  • \th\ as th in thin
  • \[th_]\ as thin the
  • \Ÿ\ as oo in loot
  • \u\ as oo in foot
  • \y\ as y in yet
  • \zh\ as si in vision
    		•


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    Based on Merriam-Webster's Dictionary of Law ©2001.
    Merriam-Webster, Incorporated
    Published under license with Merriam-Webster, Incorporated.
    http://www.m-w.com    		 Merriam-Webster

    intrinsic fraud

    fraud (as by the use of false or forged documents, false claims, or perjured testimony) that deceives the trier of fact and results in a judgment in favor of the party perpetrating the fraud


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